Southend Sold

The Stobart Group have bought Southend Airport for £21 million, with £5 million of this being paid only upon achieving certain milestones in the airport’s development – probably the current development review by Southend and Rochford Councils resulting in planning consent for an extended runway etc..

The rail station will be built by Stobart Rail and work will commence as soon as possible, as will the new control tower, airport hotel and the new terminal (although the phraseology on this has changed slightly recently with reference being made to a ‘modernised terminal’, so I’m not sure if this might involve simply a major extension of the existing terminal which was mooted some 18 months ago rather than the new terminal for which planning consent already exists).

This obviously is a huge step forward for SEN and negotiations are already underway with a number of airlines with a view to gaining passenger services as soon as possible. Stobart also see SEN as having a major role to play as a “niche air freight destination”.